Securian Asset Management Inc. Trims Position in STERIS plc $STE

Securian Asset Management Inc. lessened its stake in shares of STERIS plc (NYSE:STE) by 1.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,111 shares of the medical equipment provider’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in STERIS were worth $1,228,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Foresight Group Ltd Liability Partnership purchased a new position in STERIS during the 1st quarter valued at about $25,958,000. Ascent Group LLC purchased a new position in STERIS during the 1st quarter valued at about $261,000. Allianz Asset Management GmbH grew its holdings in STERIS by 31.9% during the 1st quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider’s stock valued at $23,229,000 after buying an additional 24,809 shares in the last quarter. NorthRock Partners LLC grew its holdings in STERIS by 21.8% during the 2nd quarter. NorthRock Partners LLC now owns 1,290 shares of the medical equipment provider’s stock valued at $310,000 after buying an additional 231 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in STERIS by 116.2% during the 2nd quarter. Truist Financial Corp now owns 31,064 shares of the medical equipment provider’s stock valued at $7,462,000 after buying an additional 16,694 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $241.87 on Friday. The business has a 50 day moving average of $244.87 and a 200 day moving average of $236.91. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of 37.04 and a beta of 1.01. STERIS plc has a 1-year low of $200.98 and a 1-year high of $253.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53.

STERIS (NYSE:STE) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.STERIS’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. On average, sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, September 4th. This is a positive change from STERIS’s previous quarterly dividend of $0.57. STERIS’s dividend payout ratio is presently 38.59%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on STE shares. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Morgan Stanley lifted their price target on STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. KeyCorp lifted their price target on STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a research report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and an average target price of $273.50.

Insider Buying and Selling

In related news, Director Mohsen Sohi sold 4,110 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the completion of the sale, the director owned 22,361 shares in the company, valued at $5,410,467.56. The trade was a 15.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Karen L. Burton sold 7,900 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the sale, the chief accounting officer owned 5,994 shares of the company’s stock, valued at $1,448,929.62. The trade was a 56.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,868 shares of company stock worth $4,585,389 over the last ninety days. Corporate insiders own 1.07% of the company’s stock.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.